Finally getting back to work on our 1972 Helms 25. Noting rusty stains on the sides of the centerboard trunk outer hull. Fount a shop magnet sticks on it just fine though the steel centerboard keel is not in the centerboard trunk. Looking for suggestions for possible cure for this new problem.

This is a photo of Helms ballast arrangement. 5/8 diaX1/2" thick carbon steel punch. This is a 1974 disassembled, I would guess in 72 the same, there is resin, just not totally filled.
I'd check the cracks where the bleed occurs for evidence of structural cracking...or just deep gouges from grounding. You could enlist a variety of repairs from major work to just grind out and fill.

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